Penn National Gaming Breaks Ground on Plainridge Park Casino
March 14 2014 - 2:00PM
Business Wire
Penn National Gaming, Inc. (Nasdaq: PENN) formally broke ground
today on the development of Plainridge Park Casino, starting the
construction of its $225 million fully integrated racing and gaming
operation located at the current site of Plainridge Racecourse.
Penn National was awarded the Commonwealth of Massachusetts’ single
slots-only gaming license on February 28, 2014.
“Today marks a significant moment in the growth and future of
Penn National Gaming. We are elated to begin construction on our
27th property and look forward to opening Plainridge Park Casino a
little over a year from now, thus bringing casino gaming to the
Commonwealth of Massachusetts under the banner of the largest
regional gaming company in the United States,” said Jay Snowden,
Chief Operating Officer of Penn National Gaming. “Our team expects
to work around the clock to achieve the same goals we met in each
of our last six openings over the past five years – opening on
time, with a big splash and with immediate benefits to the local
community.”
Joining Mr. Snowden and members of Penn National’s executive
team at the groundbreaking were the Commissioners of the
Massachusetts Gaming Commission, state and local elected officials
from Plainville, leaders of the harness racing industry, labor
organization leaders, and local businesses owners.
Penn National has started both the bidding process for
construction vendor opportunities and for identifying talent to
fill senior leadership positions at Plainridge Park Casino. The
company expects to post a complete list of job opportunities at the
new facility by the end of the summer. Penn National’s Human
Resources Department has begun meeting with the leadership of the
Community College Casino Careers Training Institute to develop a
path forward for employment opportunities. The company plans to
complete the hiring process approximately 60-90 days prior to its
grand opening.
About Plainridge Park Casino
Plainridge Park Casino will include a fully integrated 106,000
square foot racing and gaming facility featuring live harness
racing and simulcasting with 1,250 slot machines, an upscale casual
dining restaurant, the first-ever Doug Flutie Sports Bar,
four-venue food court, harness concourse bar, multi-purpose banquet
room, entertainment lounge and casino bar, 1,620 structured and
surface parking spaces, 26,000 square foot grandstand with box and
reserved seats, and 13,000 square foot clubhouse with box
seats.
About Penn National Gaming
Penn National Gaming, through its subsidiaries, owns, operates
or has ownership interests in gaming and racing facilities with a
focus on slot machine entertainment. The Company presently operates
twenty-seven facilities in eighteen jurisdictions, including
Florida, Illinois, Indiana, Iowa, Kansas, Maine, Massachusetts,
Maryland, Mississippi, Missouri, Nevada, New Jersey, New Mexico,
Ohio, Pennsylvania, Texas, West Virginia, and Ontario. In
aggregate, Penn National's operated facilities feature
approximately 31,000 gaming machines, 800 table games and 2,900
hotel rooms.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements can be identified by the use of forward
looking terminology such as “expects,” “believes,” “estimates,”
“expects,” “intends,” “may,” “will,” “should,” or “anticipates,” or
the negative or other variation of these or similar words, or by
discussions of future events, strategies or risks and
uncertainties. Such forward looking statements are inherently
subject to risks, uncertainties and assumptions about Penn National
Gaming and its subsidiaries, including risks related to the
ultimate location of the various other gaming facilities in
Massachusetts and the ongoing efforts in the state to repeal the
enabling legislation, and accordingly, any forward looking
statements are qualified in their entirety by reference to the
factors described in Penn National Gaming’s Annual Report on Form
10-K for the year ended December 31, 2013, subsequent Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K as filed with
the Securities and Exchange Commission. All subsequent written and
oral forward looking statements attributable to Penn National
Gaming or persons acting on the Company’s behalf are expressly
qualified in their entirety by the cautionary statements included
in this press release. Penn National Gaming undertakes no
obligation to publicly update or revise any forward looking
statements contained or incorporated by reference herein, whether
as a result of new information, future events or otherwise, except
as required by law. In light of these risks, uncertainties and
assumptions, the forward-looking events discussed in this press
release may not occur.
Keyser Public StrategiesWill Keyser,
617-529-5849will@keyserpublicstrategies.com
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